Carmignac Portfolio Commodities SICAV ISIN LU0164455502 Equity management
Recommended minimum investment horizon : 5 years
Global equity fund invested in energy, natural resources, and related industrial companies. By combining a fundamental top-down approach and a disciplined bottom-up analysis, the Fund manager aims to select quality companies with attractive long-term growth prospects and sustainable cash flow generation, across the entire commodity value chain. The Fund aims to outperform its reference indicator over 5 years..
Carmignac Global Strategy December 2017
- The euro rose against the dollar
- European markets underperformed
- Peripheral yields came under pressure
Exposure datamonthly weekly
The Fund turned in a positive performance but trailed its reference indicator slightly. Commodity prices continued to rise over the month, with oil in particular seeing an increase on the back of political tension in Iran, as well as the cold snap and the reduction in the number of drilling wells in the United States. We benefitted from our selection of oil stocks, with Pioneer Natural Resources, Halliburton and Suncor Energy among the main sources of performance. Our mining and metals companies such as BHP Billiton, Alcoa and Rio Tinto also did well. However, our hedging strategies on oil companies with weak fundamentals proved costly. Oil exploration company Oasis Petroleum also fell following a share offering. The Fund’s equity exposure remains high.
Week from 5 to 12 Jan 2018
The information presented above is not contractually binding and does not constitute investment advice. Past performance is not a reliable indicator of future performance. Management fees are included in performances. Investors may lose some or all of their capital, as the capital in the UCI is not guaranteed. Access to the products and services presented herein may be restricted for some individuals or countries. Taxation depends on the situation of the individual. The risks, fees and recommended investment period for the UCI presented are detailed in the KIIDs (key investor information documents) and prospectuses available on this website. The KIID must be made available to the subscriber prior to purchase.